Commodity trading firm Trafigura Pte Ltd and global ammonia player Yara International ASA have signed a memorandum of understanding to collaborate on the development and promotion of the use of ammonia as a clean fuel in shipping.
They will also work together to explore possible opportunities to work together on certain clean (green and blue) ammonia fuel infrastructure and market opportunities.
In a press release, Trafigura said reducing shipping emissions is a vital component of the fight against global climate change, yet greenhouse gas emissions from the global maritime sector are increasing.
Under the MoU announced on 7 June, Trafigura and Yara intend to collaborate in the following areas:
“There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential,” said Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Previously, Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels.
It has also performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by the International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually.
Yara also employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kilotons of storage capacity – enabling it to produce and deliver ammonia across the globe.
Photo credit: Trafigura
Published: 8 June, 2021
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